CME Group Adds to Crypto Offerings With Ether Options
The exchange will allow traders to make bets and manage risk ahead of the Ethereum Merge.
Aug 18, 2022 at 2:32 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/3UFBJXRWG5DVVBNUSGLUZG7RUM)
The CME is set to launch ether options trading (Joseph Sohm/Shutterstock)
Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.
Derivatives marketplace Chicago Mercantile Exchange (CME) plans to start offering options for ether (ETH) futures on Sept. 12, the company said in a statement Thursday.
The offering will add to CME's existing crypto products, which include bitcoin and ether futures, and bitcoin options.
The overwhelming majority of ether options trading occurs over-the-counter, and activity has surged ahead of the Ethereum blockchain's software update known as the Merge. CME’s expected launch comes shortly before the Merge is tentatively scheduled to go live, either on Sept. 15, 16 or 20.
"As we approach the highly anticipated Ethereum Merge next month, we continue to see market participants turn to CME Group to manage ether price risk," Tim McCourt, global head of equity and foreign-exchange products at CME Group, said in the statement.
"Our new ether options will offer a wide array of clients greater flexibility and added precision to manage their ether exposure ahead of market moving events," he added.
Read more: What Is the Ethereum Merge?
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)
Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/SHMBTOGJARECZNDNAP64Q4HORQ.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/QYZSCYB7KRCRDLFMAMGB7D4IPE.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/NT33HU6PXVBWFDYRRCVK76N4WI.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/RR2L3P7FBFABNGLBKIQ3NYUFCM.png)